In order to resolve a foreign ownership dispute, Temasek is expected to sell up to 46 per cent of Shin Corporation. The share sale will reduce Temasek’s aggregate holding in Shin to 48.9 per cent. Temasek aims to sell its holding at a price of 40-49.25 baht per share. While half the shares on sale would be offered to other companies, the balance will go to institutional and retail investors.
The share sale is expected to be completed in November before the court gives its verdict on whether to revoke the licences of Shin Corporation’s subsidiaries due to the company’s alleged violation of foreign ownership laws.
